As late as the end of March 2014, Alabama One executives considered a wide variety of strategies to keep long-term member and convicted felon Danny Ray Butler, pictured at left, afloat financially and hide the true condition of his loans from state regulators, according to a document leaked to CU Times.
Butler pleaded guilty to a 53-count indictment in early February 2014 and went to the federal penitentiary in September 2014.
The document, written by Stephen Shaw, an attorney with the Birmingham, Ala., law firm of Redden, Mills, Clark and Shaw, discussed a meeting Shaw attended on March 31, 2014, with Alabama One's former Business Lending Manager Tammy Ewing, Alabama One CEO John Dee Carruth and Alabama One attorney Paul Toppins. According to Shaw, the three executives put the credit union's need for more information and payments from Butler solidly in the context of pleasing regulators.
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